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Saudi Economy Continues Growth Streak as Non-Oil PMI Continued in Expansion Mode in September – Jadwa Chartbook
Saudi Arabia’s non-oil economy continued to grow in September as data continues to point to 2022 being a year in which the Kingdom outperforms economies around the world in growth, according to the latest Jadwa Investment Chartbook for the month of September 2022.
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OPEC+ and the American uproar with Colby Connelly from Energy Intelligence, plus Riyadh Season’s big events and more…
Episode 62! Energy Intelligence’s Colby Connely joins The 966 to talk about oil markets, the big kerfuffle here in the United States caused by the OPEC+ decision, and some more on that hot topic. But first, the hosts discuss new statistics on Saudi Arabia’s population, Riyadh Season 2022, and then conclude as always with the […]
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Saudi Arabia’s Population Grows 9.3% in 2021, Officially Reaching 34 million
Saudi Arabia’s population reached 34 million people in 2021, according to a recent report by Saudi Arabia’s Ministry of Health and published in the Saudi Gazette, at an annual growth rate of 9.3%.
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Saudi Telecom Giant STC Plans $1 Billion in Investments to Transform Kingdom into Regional Data Hub – Report
Saudi Arabia’s Saudi Telecom Co. (STC), the Middle East’s most profitable mobile operator, “plans to spend about $1 billion to transform the kingdom into a regional data hub, and may sell a stake in its data hub, called Center3, business to finance the plans,” Bloomberg reports.
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Middle East Regional Carriers to Spend $765 billion by 2040 on Fleet Expansion, Boeing Says
Carriers in the Middle East are set to expand its fleet with an additional 2,980 commercial jets in the next two decades, spending upwards of $765 billion on new planes, major supplier Boeing said on Monday in Dubai. The new planes will be required to meet the strongly recovering demand for both passenger and cargo […]
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OPEC Continues to Forecast Robust Global Oil Demand Growth in 2022 and 2023
In its latest monthly report, OPEC stuck to its forecasts for robust global oil demand growth in 2022 and 2023, citing signs that major economies were faring better than expected despite global headwinds such as surging inflation, Reuters reports.
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Saudi GDP Up 12.2% in Second Quarter, Exceeding Initial Estimate, as ‘Boom Spreads Beyond Oil’
Saudi Arabia’s real gross domestic product expanded by 12.2% in the second quarter compared with the same period of 2021, new data revealed on Wednesday, as the Kingdom continues to see growth from high oil prices that is now spreading to the private sector.
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Report: Israeli Energy Companies Create JV for Saudi, Gulf Push
Israeli companies Enlight Renewable Energy Ltd. and natural gas producer NewMed Energy LP plan to jointly develop renewable energy projects in North Africa and the Middle East, including in Saudi Arabia and Oman, Bloomberg reports.
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Saudi Arabia Expected to Join $1 Trillion+ Economies in 2022
Saudi Arabia’s economy is expected to cross the $1 trillion mark, joining the largest economies in the world as the Kingdom’s GDP is expected to soar in 2022 on the back of high oil prices.
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Saudi Arabia Eyes Hosting of 2026 Women’s Asian Cup
Saudi Arabia has joined Australia, Jordan and Uzbekistan as nations who have expressed interest in hosting the 2026 Women’s Asian Cup, the Asian Football Confederation (AFC) said on Monday as reported in Reuters.
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MUST-READS
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Atlético Madrid stadium rights bought by Saudi state airline
Saudi Arabia has consolidated its branding push with Atlético Madrid by paying for naming rights to the Spanish club's stadium for the next nine years. Atlético, which has been sponsored by Saudi state-owned Riyadh Air since last season, confirmed on Wednesday that its Metropolitano stadium will be known as the Riyadh Air Metropolitano henceforth until 2033. Atlético did not say how much it was receiving for the new agreement "which makes the Saudi Arabian company the most important sponsor in the club's history."
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Inside Saudi Arabia’s Remarkable Logistics Transformation
The 2024 Agility Emerging Markets Logistics Index continues to rank Saudi Arabia highly across several key metrics and demonstrates the impact of the agenda set forth by Saudi Vision 2030. The country ranks sixth for ‘international opportunities’ in the logistics sector, up three places from 2023. When it comes to ‘business fundamentals’ and ‘digital readiness’, it ranks third and sixth respectively, showing how well the Kingdom matches up in the context of global logistics. Meanwhile, Saudi Arabia has risen 17 places in the World Bank's Logistics Performance Index and is set to host the Global Logistics Forum in Riyadh later this month, reflecting its growing status as a leader in the field.
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Saudi q-commerce Nana acquires Rasseed app
Founded in 2016 by Abdulmajeed Alsukhan and Sami Alhelwah, Nana is a digital grocery shopping platform dedicated to fulfilling daily, weekly, and monthly household grocery needs. Meanwhile, Rasseed, founded in Saudi Arabia in 2016, is focused on providing software solutions to simplify the purchase of branded and local gift cards.
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Saudi Arabia, Japan are the safest and least crime countries among G20
A recent statistic for the Global Crime Index for 2023 showed that Saudi Arabia and Japan topped the list of the safest and least crime countries in the G20, as the Kingdom came in second place in the list of the safest countries, with a rate of 75.3, reflecting the success of ongoing efforts to enhance security and stability in the country, and reliance on strict legal systems and advanced technologies to monitor security, in addition to community programs aimed at enhancing safety and preventing crime.
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Saudi Arabia’s e-commerce market set to surge to $69.33 billion in 2025
Saudi Arabia’s e-commerce sector is on track for substantial growth, with revenues projected to hit SR260 billion (approximately $69.33 billion) by 2025, according to Commerce Minister Dr. Majed Al-Qasabi. During a visit to the Al-Baha region, the minister emphasized the increasing momentum in online shopping, noting that over 50 million e-commerce shipments entered the kingdom in 2023 alone.
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A Region Aflame – October 7 A Year Later
You could say Hamas as a military organization is shattered compared to what it was a year ago, but I think Israel wants to ensure that not only are they not a threat today, but they will also never be a threat. That's an exceptionally difficult bar, right? I don't actually know how you do that on a practical level. In Gaza, Israel seems to want to eradicate or destroy Hamas, but not do what the United States would say is necessary, which would be a mix of having lots of troops there so you can keep Hamas down and at the same time putting in place some sort of political structure that replaces Hamas.
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Saudi Arabia narrowly fails to win seat on U.N. Human Rights Council
Saudi Arabia narrowly failed on Wednesday to win a seat on the United Nations Human Rights Council, a blow to Riyadh's efforts to boost the country's rights reputation abroad and four years after it was rejected in a 2020 bid to join the 47-member body. Saudi Arabia is spending billions to transform its global image from a country known for strict religious restrictions and human rights abuses into a tourism and entertainment hub under a plan its Crown Prince Mohammed Bin Salman launched, known as Vision 2030. The Asia-Pacific group, which included Saudi Arabia, was the only competitive race on Wednesday with six candidates vying for five seats. Marshall Islands came in fifth with 124 votes, while Saudi Arabia missed out with 117 votes.
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New ‘Dragon Ball’ game is boost for Saudi theme park
Manga fans are eagerly awaiting the launch on Friday of the latest “Dragon Ball” video game, the first since the death in March of Akira Toriyama, the legendary Japanese artist who created the series 40 years ago. Among them are leisure chiefs at Qiddiya, the entertainment and tourism project being built near Riyadh, who revealed plans this year for a massive “Dragon Ball” theme park. The Saudi “Dragon Ball” attraction, the Kingdom’s first theme park, will cover more than half a million square meters with at least 30 rides, including a roller coaster inside a dragon modeled on Shenron, a wish-giving dragon that features in the franchise.
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Saudi crown prince meets with Iranian foreign minister in Riyadh
Saudi Crown Prince Mohammed bin Salman received the Iranian Foreign Minister Abbas Araghchi in Riyadh on Wednesday. During the meeting, Saudi-Iranian relations and the latest regional developments were discussed, Saudi Press Agency reported. The meeting was also attended by Saudi officials including Foreign Minister Prince Faisal bin Farhan who received Aragchi separately, earlier on Wednesday.
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Saudi business delegation lands in Pakistan for $2b investment talks
A high-level Saudi delegation, headed by Khalid bin Abdulaziz Al-Falih, the Kingdom’s Investment Minister, arrived in Islamabad on Wednesday for a three-day visit aimed at finalising $2 billion in business-to-business (B2B) investment proposals.
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